Russian exports to reduce by around three million bpd amid war crisis
The Paris-based agency added that rising commodity prices and sanctions on Russia "are expected to appreciably depress global economic growth" and impact inflation
By Shubhangi Mathur
Published - Mar 16, 2022, 05:54 PM ET
Last Updated - Feb 20, 2024, 10:50 PM EST
• Russia exports around 7 million to 8 million barrels of crude daily
• The IEA forecasts oil demand reduction by 1.3 million bpd for the second to fourth quarter
The International Energy Agency (IEA) predicted reduction of around three million barrels per day of oil and products from Russia amid its invasion of Ukraine.
"We see a reduction in total (Russian) exports of 2.5 million bpd, of which crude accounts for 1.5 million bpd and products 1 million bpd," the IEA said on Wednesday in its monthly oil report.
